Northern Star forecasts record year
Underground drilling at the Jundee gold mine.
Northern Star Resources reported annual gold production at the top end of guidance, as strong performances at its Jundee and Kalgoorlie operations offset weakness at its Paulsens mine in Western Australia.
- DAVID WINNING
- Dow Jones
- 8:49AM July 13, 2017
Northern Star (NST) said it had dug up a record amount of gold in the three months through June, bringing annual production to 514,735 troy ounces. That was at the top end of a prior target for annual production of 485,000 and 515,000 ounces of gold.
The company forecast another record year with production targeted at between 525,000 and 575,000 ounces of gold in the 12 months through June 2018.
It expects to start mining gold-bearing ore from the Millennium underground mine before the end of September, building up to an annualised rate of 50,000 ounces per year over time.
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